Deutsche Bank AG Acquires 283,467 Shares of Teck Resources Ltd (NYSE:TECK)

Key Points

• Deutsche Bank AG increased its stake in Teck Resources Ltd by 17.7% during the 1st quarter, owning approximately 0.38% of the company valued at $68.6 million.
• Teck Resources reported earnings of $0.27 per share for the last quarter, exceeding analysts' expectations, but its revenue of $1.49 billion fell short of the anticipated $2.25 billion.
• The company announced a quarterly dividend of $0.0918 per share, reflecting a slight increase from the previous dividend and marking an annualized yield of 1.1%.

Deutsche Bank AG raised its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,883,950 shares of the basic materials company's stock after acquiring an additional 283,467 shares during the quarter. Deutsche Bank AG owned 0.38% of Teck Resources worth $68,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in Teck Resources by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,455,546 shares of the basic materials company's stock valued at $53,014,000 after acquiring an additional 40,010 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Teck Resources in the first quarter worth about $599,000. Vanguard Group Inc. boosted its holdings in shares of Teck Resources by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock worth $711,475,000 after buying an additional 215,410 shares during the period. Costello Asset Management INC acquired a new position in shares of Teck Resources in the first quarter worth about $33,000. Finally, Scotia Capital Inc. boosted its holdings in shares of Teck Resources by 9.5% in the first quarter. Scotia Capital Inc. now owns 387,626 shares of the basic materials company's stock worth $14,016,000 after buying an additional 33,494 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating for the company. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $41.00 target price (down from $46.00) on shares of Teck Resources in a report on Friday, July 25th. Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Finally, UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of "Hold" and an average price target of $60.11.

Teck Resources Stock Up 0.7%

TECK traded up $0.23 during midday trading on Wednesday, hitting $32.74. 3,556,809 shares of the company's stock traded hands, compared to its average volume of 5,358,837. The company has a market cap of $15.82 billion, a PE ratio of 86.17, a price-to-earnings-growth ratio of 0.51 and a beta of 0.81. The stock's fifty day simple moving average is $37.11 and its 200-day simple moving average is $37.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 1.1%. Teck Resources's payout ratio is 94.74%.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.